Stock Track | Rigetti Computing Soars 67% as $100M Equity Offering Fuels Quantum Ambitions

Stock Track11-25 23:02

Rigetti Computing Inc. (RGTI) saw its stock soar by a staggering 66.95% on Monday, driven by the company's successful completion of a $100 million "at-the-market" equity offering program.

The quantum computing pioneer announced that it has raised $100 million through the sale of its common stock since commencing the offering program in March 2024. The funds raised will be utilized for working capital, capital expenditures, and other general corporate purposes, enabling Rigetti to continue its pursuit of becoming a leader in superconducting quantum computing.

Rigetti's CEO, Dr. Subodh Kulkarni, expressed optimism about the company's future, stating that the cash, cash equivalents, and marketable securities from the offering should be sufficient to support the company's operations as planned through the end of 2026. Kulkarni also highlighted the growing interest in quantum computing from national labs, academic institutions, and the private sector as the technology continues to advance and more quantum applications are developed.

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